Montréal - Marc-André Froment and Roberto Milzi, both prosecuted by the Autorité des marchés financiers (the AMF) for violations of the Securities Act in connection with the distribution of Mount Real and Norshield products, were recently fined.

Marc-André Froment pleaded guilty to 12 charges of aiding Mount Real Acceptance Corporation and MRACS Management Ltd. with illegal distributions and 12 charges of illegally acting as a securities dealer without being registered as such.

Marc-André Froment also pleaded guilty to three charges of aiding, by act or omission, Balanced Return Fund with illegal distributions and three additional charges of illegally acting as a securities dealer without being registered as such. These violations are in connection with the Norshield matter.

Roberto Milzi fined $1,000In the matter of Mount Real, on January 26, 2012, Judge Pierre Labelle of the Court of Quebec ordered Roberto Milzi to pay a fine of $1,000 for acting illegally as a securities dealer without being registered.